Mortgage Insurance Good News & Bad News

When people are financing homes with less than 20% down, they must have mortgage insurance. It comes in the form of government-backed FHA mortgage insurance or private mortgage insurance which is controlled by a few large companies. Those companies have had a rough road during the housing bust. Here’s the latest good news and bad

MetLife Exiting Mortgage Business: My Advice To Their Loan Agents

Last week MetLife said they’re exiting the mortgage business. It’s big news in the retail loan origination world, so I thought I’d share how it impacts me as a mortgage banker and offer some advice to MetLife loan agents. This move is a bit surprising since MetLife didn’t make a major push in residential mortgages

What Is Title Insurance? (VIDEO)

A big percentage of closing costs on purchase and refinance loans is title insurance. So here’s a quick primer. On a purchase, the borrower must buy two title insurance policies: one to protect them as the owner of the property, and one to protect the lender they’re using. All lenders require this. On a refinance,

Projected Range of 10yr Notes, What Manufacturing & Inflation Stats Tell Us

What Do Manufacturing & Inflation Stats Mean? Economic stats often point to different economic trends, depending on one’s viewpoint. What difference do numbers like Industrial Production, Capacity Utilization, Producer Price Index, etc., mean for anyone in the mortgage business? Aside from moving rates around, last week we saw strength in manufacturing production (pushing commodity prices